If Your Alts Haven’t Pumped, We’ve Got Some Bad News

Reading Time: 2 minutes

The alt rally that has been enjoyed by many within the crypto community will have left one set of crypto enthusiasts less than pleased. This is because, despite the fact that everywhere you look alts are popping off left, right, and center, a great many are still flatlining, remaining rooted to the course that they have been on for many, many months. Welcome to the Chart of Death.

tpay

What is the Chart of Death?

The fact that the entire market has enjoyed an upward shift in 2020 has not just given bagholders some relief, it has also ensured that, after two years of not being able to tell the living projects from the dead, we can finally do so with a degree of certainty. And if the projects that haven’t moved a muscle aren’t dead, they’re certainly staring down the barrel.

The Chart of Death is one that no bagholder wants to see at the emergence of a new market cycle. It suggests that a project has been abandoned by holders, speculators, and probably developers too. Such a collapse followed by a complete inability to get itself off the ropes at a time when everything is enjoying a relief rally suggests that there is such little faith in the project that no one is even willing to pick the tokens up speculatively.

A Token Example

One example is TokenPay (TPAY). This token ICOd at $5 back in 2017, hitting $8 in early 2018 before beginning a two-year decline that has seen it hit all-time lows of $0.064 as the rest of the market has been bouncing. If there was any doubt as to the feelings of the holders at this point in time, a simple perusal of their Twitter feed tells you all you need to know:

A two-year decline, an immobile token price, and a dissenting community says all you need to know about the future of this token, and dozens more like it.

There May be Hope

An upswing in the market like we have seen this year doesn’t of course filter down to all tokens at once – first the higher caps move, then the mid caps, then the low caps. However, when a project has spent the bear market sloping gently toward the flatline and, when the time comes to show some strength, it remains exactly where it is, or worse drops even further, it’s clear that it is no longer for this world.

However, not all projects with similar charts to TokenPay face the same death sentence. Some projects may have just not had their turn to move off the bottom, yet are still being worked on by developers.

Before deciding whether to sell your long-held bag for a whacking great loss, it’s important to check in with the community to get a feel for the project and its potential future. A Chart of Death may not necessarily mean a death sentence, but at this point you should be asking very critical questions of the developers to even consider holding out for a potential pump.

The odds are that if your token has been left behind in the 2020 spring, it’s time is up.

Share